Correction, sorry. It should jump not to the word address stored at current PC + offset in [], but to the word address stored at current PC + sizeof of this instruction + offset in []. In other words ,pc relative addressing is relative not to the start of instruction with ,pc , but to the start of next instruction. The size of instruction in your case is 4. So the address taken is at 0xF0BC + 4 + 0x8F3E = 7ffe. So what's at 7ffe?

Correction, sorry. It should jump not to the word address stored at current PC + offset in [], but to the word address stored at current PC + sizeof of this instruction + offset in []. In other words ,pc relative addressing is relative not to the start of instruction with ,pc , but to the start of next instruction. The size of instruction in your case is 4. So the address taken is at 0xF0BC + 4 + 0x8F3E = 7ffe. So what's at 7ffe?